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Economic History, Historical Analysis, and The“New History of Capitalism”

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Economic History, Historical Analysis, and The“New History of Capitalism” Economic History, Historical Analysis, and the“New History of Capitalism” ERIC HILT This article presents a critical survey of ten books from the history of capitalism, a newly HPHUJLQJVXE¿HOGRIKLVWRU\$WWKHLUEHVWWKHERRNVRIIHUSURYRFDWLYHLQVLJKWVDQGYLYLG GHVFULSWLRQVRIVRPHRIWKHGDUNHUHSLVRGHVRIRXUHFRQRPLFSDVW<HWVSHFLRXVDUJXPHQWV DQGIDLOXUHVRIDQDO\WLFDOUHDVRQLQJVRPHWLPHVXQGHUPLQHWKHVHERRNV¶HIIHFWLYHQHVVDV VRFLDOFULWLFLVP,KLJKOLJKWLQVLJKWVIURPWKH¿HOGRIHFRQRPLFKLVWRU\WKDWZRXOGVWUHQJWKHQ WKHZRUNRIKLVWRULDQVRIFDSLWDOLVP,DOVRVXJJHVWVRPHRSSRUWXQLWLHVIRUGLDORJXHLIQRW FROODERUDWLRQEHWZHHQWKHWZRFRPPXQLWLHVRIVFKRODUV FRQRPLFKLVWRU\ZDVRQFHDGHHSO\LQWHUGLVFLSOLQDU\¿HOG7KH(FRQRPLF+LVWRU\ E$VVRFLDWLRQ (+$ ZDV IRXQGHG E\ PHPEHUV RI ERWK WKH $PHULFDQ +LVWRULFDO $VVRFLDWLRQ DQG WKH $PHULFDQ (FRQRPLF $VVRFLDWLRQ DQG WKH HDUO\ YROXPHV RI WKH Journal of Economic HistoryLQFOXGHGQXPHURXVFRQWULEXWLRQVE\KLVWRULDQV%XWRYHU 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7KLVLVWKHVLJQL¿FDQFHRIWKHQDPHUDWKHUWKDQDGRSWLQJWKHDSSURDFKRIWKH¿HOGRI economic history, which seeks to analyze historical economic behavior, historians of FDSLWDOLVPDVSLUHWRVRPHWKLQJFORVHUWRVRFLDOFULWLFLVP7KH\IRFXVRQWKHKXPDQFRVWV DVVRFLDWHGZLWKKLVWRULFDOHFRQRPLFFKDQJHDQ³DFWLYLVWLPSXOVH´VHHPVWRDQLPDWHWKHLU ZRUN 5RVHQWKDO 7KH³KLVWRU\RIFDSLWDOLVP´ZRXOGVHHPWRGHQRWHDUHVHDUFK DJHQGDIRFXVHGRQZULWLQJWKHKLVWRU\RIFDSLWDOLVPEXWWKLVGRHVQRWFKDUDFWHUL]HWKH QHZ OLWHUDWXUH ZHOO 0RVW RI WKH VFKRODUV SURGXFLQJ LW DUH LQ IDFW $PHULFDQLVWV DQG PDQ\DUHIRFXVHGRQWKHWZHQWLHWKFHQWXU\:LWKIHZH[FHSWLRQVWKHOLWHUDWXUHLVQRW FRQFHUQHGZLWKWKHHDUO\RULJLQVRUGHHSLQVWLWXWLRQDOIRXQGDWLRQVRIFDSLWDOLVPDQGLW GRHVQRWVHHNWRDQDO\]HWKHIXOOHYROXWLRQRIFDSLWDOLVPRYHUWLPH1RQHRIWKHERRNV HYHQGH¿QHVZKDWLVPHDQWE\FDSLWDOLVP%XWWKHQDJDLQFDSLWDOLVPLWVHOILVQRWDFWXDOO\ WKHVXEMHFWRIWKHLUDQDO\VLV,QVWHDGWKHVHZRUNVSUHVHQWDFULWLFDODQDO\VLVRIHFRQRPLF GHYHORSPHQWLQWKHFRQWH[WRIFDSLWDOLVWLQVWLWXWLRQV7KHQDPH³KLVWRU\RIFDSLWDOLVP´ 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Making of Modern America1HZ <RUN::1RUWRQ +\PDQ/RXLVDebtor Nation: The History of America in Red Ink3ULQFHWRQ3ULQFHWRQ 8QLYHUVLW\3UHVV 2WW-XOLDWhen Wall Street Met Main Street: The Quest for an Investor’s Democracy &DPEULGJH+DUYDUG8QLYHUVLW\3UHVV &RQVHUYDWLYH(FRQRPLF'RFWULQHV 3KLOOLSV)HLQ.LPInvisible Hands: The Businessmen’s Crusade Against the New Deal1HZ <RUN::1RUWRQ %XUQV-HQQLIHUGoddess of the Market: Ayn Rand and the American Right1HZ<RUN2[IRUG 8QLYHUVLW\3UHVV 0RUHWRQ%HWKDQ\To Serve God and Wal-Mart: The Making of Christian Free Enterprise &DPEULGJH+DUYDUG8QLYHUVLW\3UHVV Source$XWKRUFRPSLODWLRQ IURPFRQVXOWDWLRQVRIUHDGLQJOLVWVRIFRXUVHVLQWKH¿HOG(DFKLVZHOOUHJDUGHGDQG VHYHUDOKDYHZRQRQHRUPRUHPDMRUSUL]HV$OWKRXJKQRWDFRPSUHKHQVLYHOLVWWKHWHQ ERRNVDUHTXLWHUHSUHVHQWDWLYHRIWKH¿HOG,KDYHJURXSHGWKHPLQWRWKUHHEURDGWRSLFV VODYHU\FRWWRQDQGFDSLWDOLVP¿QDQFHULVNDQGLQVXUDQFHDQGFRQVHUYDWLYHHFRQRPLF GRFWULQHV 7RJHWKHUWKHERRNVSUHVHQWDFULWLFDODFFRXQWRIWKHGHYHORSPHQWRIWKH$PHULFDQ 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